Najib Allegedly Used SRC International Money to Renovate Homes & Shop at Chanel

On the 10-year anniversary of former prime minister Najib Tun Razak’s swearing-in, his much-awaited trial involving SRC International Sdn Bhd has just begun earlier this Wednesday afternoon (3rd April 2019).

SRC International, a former subsidiary of sovereign wealth fund 1Malaysia Development Berhad (1MDB), allegedly channelled RM42 million into Najib’s personal account. 

Source: the star

The trial began with Attorney General Tommy Thomas giving an opening statement, alleging that the former prime minister used cheques issued from his AmPrivate banking account to pay for home renovation projects as well as for funding Barisan Nasional parties. He was quoted by The Star as saying,

“Evidence will establish that the personal cheques were issued for, among others, payment for renovation works carried out at the accused’s residence at Jalan Langgak Duta and residence in Pekan, Pahang and cheques issued to various Barisan Nasional component political parties.”

The AG added that apart from this, his credit card was also charged with USD$130,625 (approx. RM532,963) for purchases made at a Chanel store in Honolulu, Hawaii in the United States back in December 2014. This was previously unveiled in an article published in the Wall Street Journal back in 2016.

Source: fmt

According to the Malay Mail, the AG previously stated that Najib issued a total of 15 cheques from his AmPrivate account amounting to roughly RM10.78 million after several portions amounting to RM42 million was transferred to his account.

Just two days prior to this historical trial, Najib was also issued a RM1.5 billion extra tax bill from the Inland Revenue Board (LHDN) after it was found that he did not declare nearly RM4 billion worth of taxable income over the past 7 years.

Stay tuned for more updates on this developing story. 

Also read: LHDN Issues Najib RM1.5 Bil Extra Tax Bill, Allegedly Inclusive of Undeclared Tax From 1MDB